U.S. Chamber, Main Street Employers Thank Congress for Enacting Permanent, Pro-Growth Tax Policies

Dear Members of Congress,

The undersigned organizations, representing millions of Main Street businesses in every industry and community across the country, write to thank you for the Working Families Tax Cut Act. This legislation demonstrates that Congress stands with the businesses that form the backbone of our nation's economy.

Absent action, employers and workers would have faced the single largest tax increase in the nation's history. This tax hike would have fallen disproportionately on the 95 percent of American businesses organized as pass-through entities – S corporations, partnerships, and sole proprietorships. These businesses employ 63 percent of private sector workers and they contribute the majority of business income to our national economy.

Making permanent lower marginal rates and the Section 199A small business deduction were key to the success of the bill. Those provisions were critical in preserving rate parity by allowing pass-through businesses to compete on a more equal playing field with their larger C corporation competitors. They also ensure Main Street companies have the certainty they need to invest and create jobs.

The Working Families Tax Cut Act also revived a number of pro-investment, pro-growth reforms that will have lasting benefits. Restoring 100 percent bonus depreciation, reinstating full expensing for research and experimentation costs, and easing interest expense caps all encourage the capital formation necessary to modernize, expand, and create jobs.

Taken together, these provisions represent a generational victory for the millions of business owners our organizations represent, a victory that will increase investment, jobs and opportunity in the coming years. They also will help keep prices low for families. A Winston Group survey from last year found voters clearly understand that higher taxes on businesses would raise costs for consumers.

We are grateful for the leadership and commitment of the elected officials who worked to see this legislation enacted. You have made a lasting difference for countless Main Streets across America, and we look forward to working together to advance policies that support a strong and competitive U.S. economy.

Sincerely,

AICC, The Independent Packaging Association

Air Conditioning Contractors of America

American Building Materials Alliance

American Council of Engineering Companies

American Council of Independent Laboratories

American Foundry Society

American Hotel and Lodging Association

American Lighting Association

American Pipeline Contractors Association

American Subcontractors Association

American Supply Association

AmericanHort

Associated Builders and Contractors

Associated Equipment Distributors

Associated General Contractors of America

Center for a Free Economy

Coalition of Franchisee Associations

Distribution Contractors Association

Door Security and Safety Foundation

Energy Marketers of America

Family Business Association of California

Family Business Coalition

FCA International

Foodservice Equipment Distributors Association

GAWDA

Glass Packaging Institute

Health & Fitness Association

Heating, Air-conditioning, & Refrigeration Distributors

International ICSC

Independent Bakers Association

Independent Community Bankers of America

Independent Electrical Contractors

Industrial Fasteners Institute

International Foodservice Distributors Association

International Franchise Association

International Sign Association

Job Creators Network

Leading Builders of America

Main Street Employers Coalition

Metal Construction Association

Metals Service Center Institute

Missouri Soybean Association

Mortgage Bankers Association

Nareit

National Association of Convenience Stores

National Association of Electrical Distributors (NAED)

National Association of Home Builders

National Association of Wholesaler-Distributors

National Automatic Merchandising Association (NAMA)

National Beer Wholesalers Association

National Cattlemen's Beef Association

National Cotton Council

National Electrical Contractors Association (NECA)

National Electrical Manufacturers Representatives Association (NEMRA)

National Energy & Fuels Institute (NEFI)

National Federation of Independent Business

National Insulation Association

National Lumber and Building Material Dealers Association (NLBMDA)

National Onion Association

National Ready Mixed Concrete Association

National Restaurant Association

National Roofing Contractors Association

National RV Dealers Association (RVDA)

National Small Business Association

National Stone, Sand & Gravel Association

National Tooling and Machining Association

National Utility Contractors Association

North American Association of Food Equipment Manufacturers (NAFEM)

North American Die Casting Association

Pennsylvania Utility Contractors Association

Performance Racing Industry (PRI)

Petroleum Equipment Institute (PEI)

Plastics Pipe Institute

Power & Communication Contractors Association

Precision Machined Products Association

Precision Metalforming Association

Recycled Materials Association

S Corporation Association

Small Business & Entrepreneurship Council

Small Business Legislative Council (SBLC)

Society of Collision Repair Specialists (SCRS)

Specialty Equipment Market Association (SEMA)

Spray Polyurethane Foam Alliance

Subchapter S Bank Association

Textile Care Allied Trades Association

The Association for Hose and Accessories Distribution

The Hardwood Federation

The Real Estate Roundtable

The Recycled Materials Association

Tile Roofing Industry Alliance

Truck Renting and Leasing Association

U.S. Chamber of Commerce

Wine and Spirits Wholesalers of America

Woodpack Global

Wyoming Stock Growers Association